One of the controversial provisions of the newly passed tax bill that will affect many California homeowners is the $10,000 cap on local and state tax deductions.
The new limit has spurred people to pay their 2018 property taxes early, in the hopes that they can still use those federal deductions before the tax-overhaul. The Los Angeles County tax collector has seen a marked increase in both online and mail-in payments in the last few weeks – an increase of 300 percent.
The IRS said Wednesday that those who prepaid their taxes might still have to follow the new deduction limit, although there are exceptions.
Should homeowners pay their property taxes early? How is the L.A. County tax collector dealing with the confusion and influx of payments?
Joseph Kelly, LA County Treasurer and Tax Collector
Michael Di Pietro, a certified public accountant based in Pasadena